LeEco, Vizio abandon $2 billion deal over regulatory concerns

Features Reuters

(Copyright Reuters 2017)

China's Le Holdings Co Ltd <300104.SZ>, also known as LeEco, abandoned its proposed $2 billion acquisition of U.S. consumer electronics company Vizio Inc on Monday, citing "regulatory headwinds."

Continue Reading Below

LeEco and Vizio, however, have struck a new collaboration agreement that includes bringing Vizio products to the Chinese market, according to a brief emailed statement from the Chinese company.

The statement did not elaborate on the regulatory hurdles that prevented the deal from going ahead.

The deal to buy Irvine, California-based Vizio was announced in July.

(Reporting by Ismail Shakil in Bengaluru and Cate Cadell; Editing by Sandra Maler)